Principia leads €3m series-A for WISE

Atlante Ventures, F3F and Antares Capital also took part in the round, along with existing investors High-Tech Gründerfonds (HTGF), Atlante Seed and b-to-v Partners.

The latest round will enable the company to invest in the continued clinical development of its Supersonic Cluster Beam Implantation (SCBI) technology and launch a production facility in Milan.

The deal marks the first transaction for Principia III, which has a target of €400-500m and held a first close on €160m in December 2014. The fund specifically targets Italian businesses across the biomedical, e-health, healthtech, biotech, innovative infrastructures and regenerative medicine sectors.

Previous funding
HTGF, Atlante, b-to-v and Agite backed WISE with €1m of seed capital in November 2013.

Company
Headquartered in Milan and founded in 2011 via a spinout from the University of Milan, WISE develops and manufactures neurostimulation devices, which are usually implanted in the spinal cord or brain of patients suffering from neurodegenerative diseases. The company has an additional branch in Berlin.

WISE intends to bring its SCBI product to market by 2018.

People
Antonio Falcone, CEO of Principia, led the round. Christian Jung is a senior investment manager at HTGF. Alvise Bonivento is a senior investment manager at Atlante. Luca Ravagnan is CEO and co-founder of WISE.

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• Topics
• Early-stage
• Southern Europe
• Healthcare
• Italy
• Principia
• High-Tech Gründerfonds
• Atlante Ventures